Define and Discuss Value of Service Pricing

question 28

Essay

Define and discuss Value of Service Pricing.

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Definitions:

Promissory Estoppel

A principle enforcing a party’s promise to prevent injustice, even if the promise was not formalized into a contract.

Reasonable Reliance

The act of depending on the promise, statement, or action of another on the grounds that it is sensible and justifiable to do so under the circumstances.

Employment Policy Manual

A document provided by employers to employees, outlining workplace rules, policies, and expectations.

Promissory Estoppel

Promissory estoppel is a legal principle that allows a party to recover on a promise made without a formal contract, provided they have relied on that promise to their detriment.